In response to the slowing demand for EVs and the shrinking EV market, automakers like Ford are resorting to price reductions to maintain competitiveness. Following in the footsteps of Tesla, Ford has slashed prices for the Mustang Mach-E and introduced zero percent financing options.
This move is essential for Ford to remain competitive in the sales race, especially against the Tesla Model Y. By offering discounts and incentives, Ford aims to attract more buyers and mitigate the impact of the Mustang Mach-E’s exclusion from federal clean energy tax credits, which could affect sales.
The price cuts vary across different trims of the Mustang Mach-E, with discounts ranging from $3,100 to $8,100. Additionally, Ford Credit is offering zero percent financing for 72 months and a $7,500 cash incentive to further entice customers.
Similar price reductions have been applied to the F-150 Lightning, with significant discounts available for all three trims: Lariat, XLT, and Pro. These discounts, combined with the federal tax credit, aim to stimulate sales and capitalize on the record-breaking year for Ford’s electric models in 2023.
